Correlation of homeowners associations and inferior property value appreciation

Title:

Correlation of homeowners associations and inferior property value appreciation

Creator:

Robertson, Leon S.

Identifier:

https://cdk.lib.cas.cz/client/handle/uuid:fdcd1d40-1a0f-497a-abd9-4fb0bdcb66c9
uuid:fdcd1d40-1a0f-497a-abd9-4fb0bdcb66c9
doi:10.13060/23362839.2019.6.1.455

Subject:

housing prices, homeowners association, neighbourhood association, and community interest associations

Type:

model:article and TEXT

Format:

počítač and online zdroj

Description:

North to south migration in the U.S. and housing developers’ claims of benefits led to exponential growth in neighbourhood homeowners associations during recent decades. Sanctioned by state laws, association rules governing homeowners are usually initiated by developers who claim that the rules protect property values. But the claim is not supported by empirical analysis. Inflation adjusted annual percentage returns in consecutive sales of a sample of 900 most recent home sales in Duval County Florida, Pima County Arizona and St. Louis County Missouri during late 2017 and early-2018 were examined. The results revealed that the annual percentage returns on homes sold in homeowners associations were significantly less than those of homes in other neighbourhoods statistically controlling for property characteristics and prevailing economic conditions at the time of the original purchase. Correlates of home prices at any point in time are not predictive of percentage return from purchase to sale.

Language:

English

Rights:

http://creativecommons.org/publicdomain/mark/1.0/
policy:public

Coverage:

42-50

Source:

Critical Housing Analysis | 2019 Volume:6 | Number:1

Harvested from:

CDK

Metadata only:

false